Crypto Morning Brief: Canary's LTC ETF listed on DTCC website, Ethereum Foundation hiring social media manager
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Crypto Morning Brief: Canary's LTC ETF listed on DTCC website, Ethereum Foundation hiring social media manager
Federal Reserve's Bostic says he still expects the Fed to cut interest rates twice this year.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Ethereum Foundation hires social media manager to address community criticism over disconnection from user base
Josh Stark, a long-time member of the Ethereum Foundation, announced on social platform X that the foundation is hiring a social media manager. This move aims to respond to community criticism regarding the foundation's detachment from its user base.
The new social media manager will be responsible for managing the foundation’s accounts on X, Facebook, LinkedIn, and crypto-native platforms Farcaster and Lens, while also operating the @ethereum brand account.
Fed's Bostic: Still expects two rate cuts this year
According to Cailian Press, Fed official Bostic stated he still expects the Federal Reserve to cut interest rates twice this year. Many events could unfold in the future that might increase or decrease the number of cuts. The current benchmark rate remains moderately restrictive compared to the 3%-3.5% neutral rate. Economic slowdown is a significant concern due to upcoming policy changes, but corporate expectations point to a solid year ahead in 2025, with the economy continuing to show resilience so far.
Canary’s LTC ETF listed on DTCC website under ticker LTCC
According to an official Litecoin X account repost, Canary’s LTC ETF has been added to the Depository Trust & Clearing Corporation (DTCC) website under the symbol LTCC.
Previous report, Bloomberg ETF analyst noted that DTCC does not arbitrarily list large numbers of stocks or ETFs; nearly all entries on its eligibility files are either actively trading or pending processing.
Insider: Deribit acquisition talks ongoing, both Kraken and Coinbase interested
Insiders revealed that acquisition discussions between cryptocurrency options exchange Deribit and Kraken continue, contradicting earlier rumors that Kraken had withdrawn. According to Bloomberg, Deribit’s valuation could reach $4–5 billion or higher.
Another insider said U.S.-listed exchange Coinbase is also evaluating the possibility of acquiring Deribit. Notably, while reports suggest Deribit is working with FT Partners to assess offers, Deribit CEO Luuk Strijers denied claims of being acquired. Neither Kraken nor Deribit has issued any official comment on the acquisition speculation.
Stacks co-founder: The “honeymoon period” for Bitcoin L2s is over, more than two-thirds of projects expected to disappear
At Consensus 2025, Stacks co-founder Muneeb Ali stated that the “honeymoon period” for Bitcoin Layer 2 projects has ended, predicting that over two-thirds of such projects will vanish within the next three years. Ali emphasized that not all teams possess sufficient mission-driven focus or determination to sustain development, and most have realized how intensely competitive the landscape has become.
Regarding the Bitcoin ecosystem, Ali pointed out that trading volume and market cap across the sector are currently suppressed. As investors seek lower risk, they tend to favor blue-chip projects expected to survive at least five years. Ali also predicted that as influence wanes from blockchains like Ethereum and Solana, market momentum will shift toward Bitcoin.
He stressed that Bitcoin attracts capital inflows from outside the industry through instruments like spot ETFs, whereas other projects compete within the same funding pool. Based on data from the past decade and halving cycle patterns, he believes Bitcoin’s price will not fall below $50,000, and major hedge funds will follow this trend.
Bybit CEO: PI project is a scam, Bybit won’t list any suspicious projects
Bybit CEO Ben Zhou tweeted that Chinese police issued an official warning about PI in 2023, alerting the public that it is a scam targeting seniors, which leaks personal data and risks pension losses. Multiple other reports have questioned the project’s legitimacy. Bybit has never made any listing request to PI, and claims that PI rejected Bybit’s listing or that Bybit failed some PI KYB process are completely baseless. If PI were legitimate, it should directly address these concerns, rather than fabricating lies and launching childish, unfounded attacks. He personally still views PI as a scam, and Bybit will not list any project suspected of being fraudulent.
Blockchain game Illuvium restructures due to operational difficulties
According to Decrypt, NFT gaming project Illuvium is undergoing restructuring and layoffs due to poor performance. Some core contributors have opted for pay reductions or receiving salaries in tokens. Last year, Illuvium launched three interconnected games—Overworld, Arena, and Zero—covering different genres, and the layoffs occurred around that time. Despite Illuvium’s ambitious vision, community reception after years of development has not been particularly positive.
In December, co-founder Kieran Warwick acknowledged that concerns about the gameplay of the series were justified and that changes were necessary. This included Illuvium significantly reducing costs by implementing measures such as capping salaries at $85,000. However, this week, Warwick stated that even deeper cuts are now required.
Figure receives SEC approval to issue first yield-bearing stablecoin
PANews, Feb 20 — According to Fortune, Figure has received approval from the U.S. Securities and Exchange Commission (SEC) to launch the first yield-bearing stablecoin. The SEC spokesperson did not immediately respond to requests for comment. The stablecoin, named YLDS and developed by digital asset firm Figure Markets, will be pegged to the U.S. dollar and offer users a 0.5% yield, similar to cash in a savings account.
Market Data
Suggested Reading
Virtuals has launched a new protocol called ACP (Agent Commerce Protocol), designed to enhance collaboration efficiency among AI Agents. Through decentralized transaction and verification mechanisms, ACP injects new vitality into the ecosystem. It provides a standardized interaction framework enabling AI Agents to negotiate, trade, and collaborate much like humans, thereby accelerating AI commercialization.
a16z: How can crypto startups pitch themselves?
This article explores how crypto startups can clearly and effectively communicate their company vision, product value, and market positioning using messaging tools such as mission statements, value propositions, and elevator pitches to better connect with customers, partners, and investors. It also offers practical advice to help founders develop messaging strategies in the early stages.
This article compiles a flash AMA session featuring Ethereum founder Vitalik Buterin with a Chinese-speaking community, covering topics including Ethereum’s future development, technical roadmap, the relationship between Layer 1 and Layer 2, challenges of decentralization, privacy protection, developer incentives, and more. Vitalik provided in-depth insights into Ethereum’s positioning, scalability, governance model, and long-term value, while addressing various community concerns.
Delphi Digital Report: KGeN’s “Proof of Gamer,” redefining gaming incentives and player growth
KGeN is a platform focused on Web3 gaming user acquisition and reputation management. Through its innovative “Proof of Gamer” (PoG) system and dual-token model (KGEN and KCash), it redefines user growth strategies in the Global South. The platform aligns publisher and player interests via task-based rewards and uses five core dimensions to filter and evaluate user quality, significantly lowering customer acquisition costs. KGeN’s ecosystem gradually builds strong market moats through data accumulation, on-chain transactions, and AI-powered precision targeting.
Monad testnet goes live — here’s the simplest guide to get started
This article introduces the launch of the Monad testnet and provides a step-by-step interaction guide, detailing Monad’s technical features, ecosystem applications, user interaction methods, and the importance of community participation. It also highlights Monad’s high-performance capabilities, Ethereum compatibility, and fundraising performance in the primary market.
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